Skip to comments.Abe to review plan to double sales tax to 10% (Japan)
Posted on 09/22/2013 10:18:50 PM PDT by TexGrill
Prime Minister Shinzo Abe suggested Sunday that he will re-examine the advisability of following through with the doubling of the consumption tax to 10 percent in October 2015.
If we raise the tax (to 8 percent), we need to make a decision by looking at the consequences. Whether risks in the global economy will become evident is an important factor to be watched, Abe said on a TV program.
Abe did not say clearly whether he would go ahead with the first stage of the consumption tax hike to 8 percent in April 2014, but is expected to make a final decision on Oct. 1.
The government has been also discussing reviewing taxes related to corporate activities.
The government and the ruling coalition might relax the criteria for a temporary cooperative tax cut program aimed at encouraging companies to hike wages while Abe targets 2 percent inflation, sources said.
In focus is whether the pay hike target will be cut to 3 percent from 5 percent now so more firms can participate, they said.
This will help the government, led by the Liberal Democratic Party, encourage more businesses to boost wages and make Abenomics actually work.
(Excerpt) Read more at japantimes.co.jp ...
8% is a done deal - watch . Keep in mind NOTHING is exempt from this “ consumption “ tax in Japan - nothing , so in reality it is already much higher than say a 6% in FLA where many goods inc. are tax exempt .
Abe’s sales tax plan will really help Japan’s economy — NOT.
Abe announces 8% CONSUMPTION ( not sales ) tax from April . Told you it was a done deal . Bastards !
Crooks . They’ll vote themselves an 8% pay increase next week ! Meanwhile the elderly , retired , and underpaid young will suffer most .
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